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WILMINGTON, IL-A 430,000-sf facility formerly used by Johnson & Johnson has been sold for $7.37 million to Meritex Enterprises, which has already leased 112,265 sf to Ivex Packaging Corp. Meanwhile, Meritex plans to develop the 79-acre site for additional commercial and industrial use.

Ivex Packaging Corp. has an option for an additional 113,975 sf in the 430,000-sf building at 901 E. Kankakee River Dr., which has the capability of being expanded by another 200,000 sf.

“Properties of this magnitude are rarely available,” says Colliers Bennett & Kahnweiler Inc. vice president Keith S. Stauber, SIOR, who represented Meritex Enterprises in its purchase and is exclusive marketing agent for the property.

Colliers Bennett & Kahnweiler Inc. senior vice president James B. Planey and vice president James F. Pater represented Johnson & Johnson along with David Houston, SIOR of Colliers Houston, New Jersey.

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